Question: Select all that apply How does converting liabilities to revenue affect the elements of financial statements? Multiple select question. The conversion increases net income. The

Select all that apply
How does converting liabilities to revenue affect the elements of financial statements?
Multiple select question.
The conversion increases net income.
The conversion increases assets.
The conversion decreases liabilities.
The conversion decreases expenses.
The conversion increases owners' equity.
The conversion increases revenue.

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